Security is the process by which valuables are protected from criminal violation, as Safety is the process by which valuables are protected from accidents.
The twin occurrence of crime and accident in a business organization leads to unwarranted loss. Loss being a condition of disadvantage resulting in the victimization of the person or concern bearing the loss. Other sources of loss are wastage and natural disaster.
The survival of any business organization is principally determined by its ability to acquire, utilize and retain energy, in the form of resources. The retention of resources to avoid resource erosion is a function of loss management found in loss prevention and control.The whole essence of private security management therefore is to assist business and private persons achieve the most efficient and effective loss management processes in order to attain continuous survival through resource acquisition, utilization and retention.